TMR Image

Cardiac Pacemakers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2027

WILMINGTON, DELAWARE, USA, July 27, 2022 /EINPresswire.com/ -- According to Transparency Market Research’s latest report on the global cardiac Pacemakers market for the historical period 2017–2018 and forecast period 2019–2027, increase in incidence of cardiovascular diseases, and rise in geriatric population are projected to drive the global cardiac Pacemakers market during the forecast period

According to the report, the global cardiac Pacemakers market was valued at US$ 9,514.0 Mn in 2018 and is anticipated to expand at a CAGR of 7.8% from 2019 to 2027

Request Sample of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=46407

Increasing demand for minimally-invasive procedures to Promote Usage of Cardiac Pacemakers: Key Drivers

Minimally invasive procedures include reduced stay in the hospital, limited incision, fewer pain following surgery and faster healing period. Such advantages draw doctors and thereby increase the number of doctors who opt for minimally invasive surgery. Both procedures ensure the patient experiences minimum pain and distress.

Globally, minimally-invasive cardiac procedures were around 15 million in 2017, and are estimated to reach 30 million by 2030. These statistics provide an understanding of the rising trend in the number of minimally-invasive surgeries performed globally.

Rapid changes in technology are expected to further accelerate the number of minimally-invasive surgeries. Thus, a rise in the number of minimally-invasive surgeries is likely to drive the overall cardiac pacemakers market. Hence, this driver would have a high impact on the growth of the cardiac pacemakers market throughout the forecast period.

Request for Custom Research - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=46407

Rise in Geriatric Population Boost Market Growth

Rise in the geriatric population directly affects the growth and development of cardiac pacemaker products. This is primarily due to aged people are highly susceptible to cardiovascular diseases such as sick sinus syndrome and atrio-ventricular blockage.

Growth in the global base of population over 65 years of age would act as a high impact driver of the market. According to the U.S. Census Board, people older than 65 years represented around 13% of the total population; this percentage is expected to grow at an estimated 20% by 2030. According to the World Health Organization, the global geriatric population is anticipated to reach 1.5 billion by 2050. Other countries aging at a rapid pace are the U.S., Japan, and Germany. The impact of this driver is expected to remain high during the forecast period as the global geriatric population is constantly rising.

Furthermore, the United Nations Population Division published in 2013 that the global geriatric population is expected to more than double, from 841 million in 2013 to 2 billion by 2050. It also revealed that people aged 80 years and above accounted for 14% of the global geriatric population in 2013 and the percentage is projected to reach 19% in 2050.

The average age of patients receiving pacemaker implantation is 72 in case of men and 76 in case of woman in Europe; 68 in case of men and 72 in case of women in US; 66 in case of men and 67 in case of women in Asia-Pacific; 59 in both men and women in Middle East & Africa, and 66 in case of men and 67 in case of women in Latin America.

Therefore, consistent increase in the geriatric population across the world has been identified as a major factor fueling the growth of the cardiac pacemaker market

Ask for References - https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=46407

Strict Regulatory Approval to Hamper Market

Pacemakers are regarded as class III high-risk medical devices by the U.S. FDA. Therefore, these devices undergo rigorous safety and efficacy tests prior to receiving approval. Burden of excise duty of 2.5% on all medical devices is one of the clauses that would restrain the growth of the market.

Moreover, these devices need to obtain a premarket approval, which is an expensive and lengthy process. The restraint would have a low impact due to the fact that safety and efficacy are the two most imperative objectives of a manufacturer.

Profit margins associated with successful commercialization of a product significantly outweigh the cost factor entailed by manufacturers during the clinical trial process.

Make an Enquiry Before Buying - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=46407

Global Cardiac Pacemakers Market: Competitive Landscape

This report profiles major players in the global cardiac pacemakers market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments

The global cardiac pacemakers market is highly fragmented, with the presence of a number of international as well as regional players

Leading players operating in the global cardiac pacemakers market are

BIOTRONIK
Boston Scientific Corporation
Cook
MEDICO S.p.A.
Medtronic
LivaNova PLC
Abbott

More Trending Reports by Transparency Market Research –

Single-use Bioprocessing Systems Market: https://www.transparencymarketresearch.com/single-use-bio-processing-systems-market.html

Diagnostic Specialty Antibodies Market: https://www.transparencymarketresearch.com/diagnostic-specialty-antibodies-market.html

Biotherapeutics Cell Line Development Market: https://www.transparencymarketresearch.com/biotherapeutics-cell-line-development-market.html

Genome Engineering Market: https://www.transparencymarketresearch.com/genome-editing-engineering-market.html

Metagenomics Market: https://www.transparencymarketresearch.com/metagenomics-market.html

Oligonucleotide Synthesis Market: https://www.transparencymarketresearch.com/oligonucleotide-synthesis-market.html

API Market: https://www.transparencymarketresearch.com/api-chondroitin-sulfate-hyaluronic-acid-pancreatin-market.html

Genetic Testing Services Market: https://www.transparencymarketresearch.com/genetic-testing-services-market.html

About Us

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Rohit Bhisey
TMR
+1 415-520-1050
email us here

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.